Posted on: 15th Feb, 2010 07:57 pm
I wonder what will happen to the case I brought up against the seller and others after I purchased the house. Does this bankruptcy would be a best solution to keep my property and still be on the case? Or is this just a bad idea just as foreclosure. Do I still have a case against the other party if I file for bankruptcy due to high credit card debts? What shall I do. Lender already denied my application to loan modification. They given me an option to have one of the banks takes over the title of the house. What does this means? My income is good enough without the unsecured debts payments every month.
Hi fosterlove,
"They given me an option to have one of the banks takes over the title of the house. What does this means?" As far as I can understand, the lender wants to foreclose the property. This will let you sell off the property and the lender will be able to recover his dues.
"They given me an option to have one of the banks takes over the title of the house. What does this means?" As far as I can understand, the lender wants to foreclose the property. This will let you sell off the property and the lender will be able to recover his dues.